The NBR establishes the Payments Committee
23.05.2022
The National Bank of Romania Board decided to establish a Payments Committee. The Committee shall have an advisory role and shall support the NBR Board in fulfilling its statutory tasks of promoting and monitoring the smooth functioning of payment systems and instruments in Romania, as well as those related to the authorisation and supervision of payment services and instruments.
The Committee shall have the following objectives:
- to identify the necessary measures to consolidate the retail payments market and develop an integrated payments market;
- to propose measures to support the development of the payments market, including to enhance the security of payments and preserve users’ confidence in payment instruments and services;
- to monitor the technological progress and the evolution of the domestic payment services market;
- to develop payment strategies by considering the impact of European, international and domestic payment regulations on the payments market in Romania;
- to identify the barriers limiting the increase in financial inclusion from the perspective of payment services, the instruments used and the related costs;
- to facilitate close cooperation between the parties involved in the provision of payment services and instruments.
Depending on the topics discussed, representatives of payment service providers in Romania, including of FinTech companies and the business environment, central government authorities, as well as other entities with relevant payment duties may be invited to the Committee’s meetings.